GRAND RAPIDS — The newest investment fund in West Michigan offers a new model for individual investors to take their first steps into the world of venture capital.

GRAND RAPIDS — The sale of RespondWell LLC last summer for an undisclosed sum was the first exit recorded by venture capital firm Michigan Accelerator Fund.

GRAND RAPIDS — After closing last spring on a $2 million venture capital investment, Ted Spooner began seeking another $8 million for his company, RespondWell LLC, a Grand Rapids-based telehealth provider.

At some point in the coming months, Mark Gurney and directors at Tetra Discovery Partners LLC will decide which road to travel into the future for their company.

Here is the MiBiz Growth Report for June 13, 2016.

• M&A: National Coatings Inc. in Traverse City was acquired by Color Masters Painting of Raleigh, N.C. Terms of the deal were not disclosed. Established in 1996, National Coatings is a commercial and industrial painting company. Color Masters employs 120 people and will add 160 employees with the acquisition as it targets 2017 sales of $30 million, according to owner and founder Zeb Hadley. M&A firm Calder Capital LLC in Grand Rapids represented National Coatings and sourced the buyer.

A Kalamazoo-based firm has developed new technology that it says could bring back some favorable cold weather- and drought-resistant qualities to modern corn crops without resorting to genetic engineering.

KALAMAZOO — A life sciences company developing spider venom-based bio-pesticides tapped new and existing investors to raise $10.2 million in Series B preferred stock financing.

A Grand Rapids venture fund exceeded its first-year goals, both in funds raised from investors and investments made. Michigan Accelerator Fund I netted $9 million in commitments from investors during its first year, lifting the total capital that it will have available to $15 million. Launched in January 2011 with $6 million in state seed funding, the venture fund expected to raise $4 million from private investors.